Opening the Romanian Chamber of Commerce in Azerbaijan would develop economic relations between the two countries, Azerbaijani Economic Development Minister Shahin Mustafayev said during the Azerbaijani-Romanian business forum in Baku today.

He said the current level of trade turnover between the two countries does not reflect their potential and increased by more than 23 per cent in 2012.

"Despite this there are also great opportunities to expand foreign trade relations in accordance with the potential of the two countries," he said. "There are all the prerequisites for this."

Eight companies with Romanian capital in such areas as industry, construction and the trade sector successfully operate in Azerbaijan today. Around 49 companies operating in trade, construction, transportation and real estate with Azerbaijani capital have been registered in Romania.

Mustafayev said the intergovernmental commission plays a major role to strengthen bilateral economic relations between Romania and Azerbaijan.

"At present four meetings of the intergovernmental commission have been held," the minister said. "I think the next meeting will be held in the capital of Romania, Bucharest soon. It is planned to discuss the important issues of expanding economic cooperation as part of this session."

/Trend/